The deal, announced earlier this week, will see IMCD’s local subsidiary - IMCD Italia - take control of Burago di Molgora-based Organotec, which has been a supplier organic chemical products, fine chemicals and intermediates to the pharmaceutical and food industries for the last 25 years.
Integration of the organisations, which is expected to start in January next year, will provide growth opportiunities for both parties according to IMCD Italia managing director Gabriele Bonomi.
“Organotec is a reputable player in fine chemicals market in Italy and their portfolio perfectly complements ours in Italy. On the other hand, our expertise and network in other markets open up possibilities for Organotec’s principals to enter new market sectors. These are all the reasons that made IMCD and Organotec a perfect match.”
The deal – financial terms of which were not disclosed – is the second IMCD has made in the pharmaceutical supply space this year, behind South African chemicals and formulation supplier Ethnichem in June.
At the time Mark Hepburn, MD of IMCD South Africa. “Ethnichem’s strength in the personal care and pharmaceutical sectors perfectly complements IMCD. Their product offering fits very well with the current IMCD South African product portfolio, broadening the growth possibilities in the market."
More recently Rotterdam-headquartered IMCD has opened a regional base in Singapore – a key global pharmaceutical and biopharmaceutical hub where major manufacturers like Lonza and Merck already have extensive production operations.
At the time group CEO Piet van der Slikke said: “We are now aiming to become a preferred distributor for the leading suppliers of specialty products in Asia. IMCD wants to apply the capabilities and knowhow acquired in Europe to the same sectors in the Asian markets.”